Exhibit 10.32

This Amendment Number Five (the "Amendment"), effective as of November 1, 2015 (the "Amendment Effective Date"), amends the Amended and Restated Wafer Supply Agreement effective as of April 1, 2003 as further mended by Amendment Number One, effective August 11, 2004, Amendment Number Two, effective April 1, 2008, Amendment Number Three, effective June 9, 2008, Amendment Number Four, effective as of June 13, 2008 and Amendment Number Five, effective as of November 14, 2008 (the "Agreement"), by and between Lapis Semiconductor Co., Ltd., a Japanese corporation having its registered head office at 2-4-8 Shinyokohama, Kouhoku-ku Yokohama ###-###-#### Japan (“Lapis”), and Power Integrations International, Ltd. ("PI") a Cayman Islands corporation having its principal place of business at 4th Floor, Century Yard, Cricket Square, Elgin Avenue, P.O. Box 32322, Grand Cayman K Y 1-1209. Unless specifically designated otherwise, capitalized terms used herein shall have the same meanings given them in the Agreement.

WHEREAS, pursuant to the terms of the Agreement, PI grants to LAPIS licenses of certain of PI's intellectual property for the sole purpose of PI acquiring from LAPIS the fabrication and supply of wafers of certain power IC products; and

WHEREAS, PI and LAPIS desire to amend the terms of the Agreement; and

WHEREAS, in accordance with Section 18. 10 of the Agreement, the Agreement may be amended only by an instrument in writing duly executed by authorized officers of LAPIS and PI.

Now, THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby amend the Agreement as follows:

Low Yield [*] Wafer is defined as following two Groups and the Conditions will be verified following the Mass Production Yield Criteria form (see Exhibit D)

1.28.1 Group 1: Any [*] wafer with a yield loss of greater than [*] to the [*];

1.28.2 Group 2: Any [*] wafer of a given product with [*] (“prime”) yield less than a minimum yield for Group 2 shall be calculated by:

2.     Section 3.6 is added:

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives, effective as of the Amendment Effective Date.